During the Arlington County Board meeting on Tuesday, County Manager Mark Schwartz recommended allocating the leftover funds across three categories:
- $14.4 million set aside for FY 2021 budget deliberations
- $6.8 million towards the Economic & Revenue Stabilization Contingent
- $2 million for the County Manager Operating Contingent
Reserving $14.4 million for unallocated funds would give “the county some flexibility when weighing its future budget choices for FY 2021,” according to county budget director Richard Stephenson.
Staff said $6.8 million Schwartz recommended for the county’s reserve fund is important for maintaining Arlington’s high bond ratings. If approved, these funds would increase the county’s contributions to its reserve from 0.5% to 1% of the total operating budget.
“Bond ratings serve as an indicator of the county’s resiliency and ability to weather economic downturn and unusual catastrophic events,” said Maria Meredith, director of Arlington’s Department of Management and Finance, during Tuesday’s meeting.
The remaining $2 million for the County Manager Operating Contingent would be for addressing “unforeseen needs that arise during the fiscal year, such as contractual increases, repairs, or special projects,” said Stephenson.
“We’ve had this contingent set aside for awhile,” said Stephenson after the meeting. “For example, when Katie Cristol came on as Board Chair and wanted to start the Child Care Initiative, the money was there to do those things — without needing the redistribute the county budget.”
The $23.2 million carryover represents 2.7% of the county’s total FY 2019 budget, a slight increase from last year’s 2.6% carryover.
Until recent budget years, the Board would usually allocate its close-out surplus funds to a variety of initiatives, a practice that prompted some bipartisan criticism. Last year the Board mostly rolled over its leftover funds to the next year’s budget, while also adding to its reserves.
“We’ve done a much better job explaining the sources of these funds, and we’re getting much more responsible in [their] proposed uses,” said Dorsey.
County Board members added they welcome public comment on the issue throughout the month before they are scheduled to take action during their next meeting on Saturday, November 16.
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The Arlington Sports Hall of Fame is extremely pleased to announce that our 2023 Annual Induction Dinner, again in partnership with the Better Sports Club of Arlington, will be held on Wednesday, Oct. 11, at the Knights of Columbus, located at 5115 Little Falls Road, Arlington, Va.
Our dinner will pay tribute to all the honored members of the Hall of Fame and will induct the following six new Class of 2023 inductees, joining the 62 athletes, coaches and contributors who have been inducted into ASHOF since its founding in 1958:
Noel Deskins (Yorktown Class of ’79): Track & Field record-holder & Athlete of the Year at YHS and JMU
Eric Metcalf (O’Connell Class of ’85): Star NFL running back, football and track & field record-holder and Hall of Famer at both O’Connell and the University of Texas
🌟 Calling all adventurous hearts! 🌟
💑 Get ready for an evening of excitement and connection as we present Speed Dating Night at The Renegade in Arlington, VA! 🌆
📅 Mark your calendars for Oct 20th, from 6-9 pm, because